Cabela’s World’s Foremost Bank Donates to Sidney New Neighborhood Initiative
SIDNEY, Neb. –-(Ammoland.com)- World’s Foremost Bank, a subsidiary of Cabela’s Incorporated (NYSE: CAB) and the issuer of Cabela’s CLUB Visa credit card, presented today a $30,000 donation to the Sidney New Neighborhood Initiative, a partnership between the Nebraska Department of Economic Development and the City of Sidney that helps fund the development of affordable single-family housing.
Homes built in the development are available to qualified buyers at prices tens of thousands of dollars below their value, thanks to incentives from the State of Nebraska, Mesner Development and the Sidney Economic Development Fund. Additional discounts, in the form of down payment assistance grants, are also available to buyers based on financial need. The World’s Foremost Bank donation will be applied toward the income-based assistance.
“This generous donation from World’s Foremost Bank will make it possible for valuable members of Sidney’s workforce to qualify for affordable housing,” said Gary Person, Sidney city manager. “It will also allow the city to use project-designated funds to further the development in other ways, like cultivating green space.”
Ralph Castner, Cabela’s Executive Vice President and Chief Financial Officer, presented a check to Gary Person and Cheyenne County Chamber of Commerce Executive Director Megan McGown during an event held in the new neighborhood on Dailey Drive in the Cottonwood subdivision on the eastern edge of Sidney.
The Cheyenne County Chamber also played a significant role in the city’s grant application process, which ultimately led to Sidney being selected, as one of only three such communities in the state, to receive assistance from the Nebraska Affordable Housing Trust Fund and the Community Development Block Grant to fund the development. The first phase of the development will include 24 single-family units, both homes and townhomes, each featuring three bedrooms, two bathrooms, a fireplace, a basement, a spacious backyard and a two-car garage.
“As Cabela’s continues to grow, we want to see our hometown community grow with us,” Castner said. “World’s Foremost Bank is fortunate to be in the position to give back to the City of Sidney and we’re happy this donation will directly benefit the town’s hardworking people.”
For more information about the Sidney New Neighborhood Initiative, visit www.cityofsidney.org.
About Cabela’s Incorporated
Cabela’s Incorporated, headquartered in Sidney, Nebraska, is a leading specialty retailer, and the world’s largest direct marketer, of hunting, fishing, camping and related outdoor merchandise. Since the Company’s founding in 1961, Cabela’s has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the World’s Foremost Outfitter. Through Cabela’s growing number of retail stores and its well-established direct business, it offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. Cabela’s also issues the Cabela’s CLUB Visa credit card, which serves as its primary customer loyalty rewards program. Cabela’s stock trades on the New York Stock Exchange under the symbol “CAB.”